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Press release 04/13
E-CO Energi reported a profit after tax of MNOK 401 in Q1 2013, as against MNOK 482 in Q1 2012. The decline is due to lower
production. The actual selling price was on a par with last year. E-CO Energi expects production to be below normal in 2013.
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Press release 03/13
2012 began with record-high reservoir levels. The available annual water supply was also well over normal, so E-CO Energi
increased production by no less than 1 TWh compared with last year. The Group obtained prices that were 36 per cent higher
than the area price for Oslo (NO1), thanks to successful power price and currency hedging. Efficient operations and good production
planning with high availability of the power plants contributed to yet another strong quarter for E-CO Energi. Consolidated
operating revenues totalled MNOK 3 251. The average selling price was 0.30 NOK/kWh, which was 36 per cent higher than the
NO1 price. The net profit for the year was MNOK 910, compared with MNOK 943 last year. The Board of Directors proposes a dividend
of MNOK 750.
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Press release 06/12
E-CO Energi reported a net profit after tax for the first nine months of the year of MNOK 612, down MNOK 43 year-on-year.
Although power production climbed by nearly one TWh, that was not enough to offset the formidable decline in power prices.
"Hedging had a substantial favourable effect; the actual selling price has been 44 per cent higher than the area price for
Oslo year to date (YTD)" says Tore Olaf Rimmereid, President and CEO of E-CO Energi.
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High production and good hedging effects translated into strong performance for E-CO Energi in H1 2012. The profit before tax came to MNOK 1 135, an increase of MNOK 27 from last year. Lower spot prices entailed lower resource rent tax. After tax, the H1 profit climbed from MNOK 450 last year to MNOK 577 this year.
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Press release 01/12
Record-high production and gains on hedging led to an exceptionally good result for E-CO Energi in Q1 2012. Despite a large
fall in the spot price, the profit after tax increased by MNOK 90 compared with last year. The Q1 profit came to MNOK 915
before tax and MNOK 482 after tax.
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Press release 01/12
2011 began with very little snow, a hydrological deficit and record-high prices. This trend reversed in mid-year, turning
to record-high precipitation and a decline in prices. Thanks largely to the high level of availability of our power plants
and efficient price hedging, E-CO Energi can once again report a good result. Consolidated operating revenues totalled MNOK
3 514. The average selling price was 0.37 NOK/kWh, which was 2.5 per cent higher than the area price for Oslo. The net profit
for the year was MNOK 943, compared with MNOK 1200 last year. E-CO's Board of Directors proposes a dividend of MNOK 800.
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Torill Berdal
Vice President, HR and Communications
Telephone: +47 24 11 65 90
Mobile: +47 952 24 373
E-mail: torill.berdal@e-co.no
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Per Storm-Mathisen
Communication manager
Telephone: +47 24 11 65 91
Mobile: +47 982 55 406
E-mail: per.storm-mathisen@e-co.no
